宏观钰济研兀2015年第11期 ⑦许小年:《以法人机构为主建立公司治理机 ship structure. Journal Of Financial Economics,vol.3, 制和资本市场》,《改革》1997年第5期。 No.4,1976. ⑧张芳、李龙:《中国银行业市场结构衡量指 2) Kima, K.A., Kitsabunnarat-Chatjuthamardb, P. 标及分析》,《宏观经济研究》2012年第10期。 and Nofsingerc, J.R., Large shareholders, board inde- ⑨张红军:《中国上市公司股权结构与公司绩 pendence, and minority shareholder rights: Evidence 效理论与实证分析》,《经济科学》2000年4期 from Europe. Journal Of Corporate Finance, Vol 13 ⑩朱建武:《基于EⅤA的中小银行绩效与治理No.5,2007 结构关系分析》,《财经研究》2005年第5期。 22)McConnell, J and Servaes, H, Additional evi- Allen, F. and Gale, D, Corporate governance dence on equity ownership and corporate value. Journal University Of Pennsylvania, Worki Of Financial Economics. Vol 27. No. 2. 1990 Paper, No 117, 1998 2 Mitton, T, A cross-firm analysis of the impact ① Andres,P. and vallel of corporate governance on the East Asian financial eri nance in banking: The role of the board of directors. is. Journal Of Financial Economics, Vol 64, No. 2 Journal Of Banking And Finance, Vol 32. No 12, 2008 2002. (B Campa, J M and Kedia, S, Explaining the di- 2) Nalebuff, B J. and Stiglitz, JE,Information versification discount. Journal Of Finance, Vol. 57, competition, and markets -information, competition No.4,2002. and markets. American Economic Review. Vol. 73 C Dahya, J. Dimitrov, 0 and McConnell,J, Domi- No.2, 1983 nant shareholders,corporate boards,and corporate value:A Q Nickell, S.J., Competition and corporate perfor- cross-count ry analysis. Joumal Of Financial Economics, mance Joumal Of Political Economy, Vol. 104, No 4, 1996 Vol.87,No.1,2008 sAxton, K, Banks face risky business of Basle C Gezan, S.A. and Munoz, P.R., Introduction to Euromoney, Jan,2002 linear mixed model. Working Paper, 2010 eD Schmukler, S. and Vesperoni, E, Firms'fi (6 Grosfeld, 1 and Tressel, T, Competition and na choices in bank based and market based eco- corporate governance: Substitutes or compliments? Evi- nomics. World Bank Working Paper, 2000 dence from the Warsaw stock exchange. delta Work 28Shleifer. A and Vishny survey of corpo- ing Papers, No 2001-06, 2001 rate go Vol. 52. No. 2 (HOlmstrom, B, Moral hazard in teams. Bell 1997 Journal of economics, Vol 13. No. 2. 1982 Q9 Stiroh, K J and Rumblea, A, The dark side of Q8 Huang, R. and Ratnovski, L, The dark side of diversification: The case of US financial holding com- bank whole sale funding. IMF Working Paper, No 1223, panies. Journal Of Banking And Finance, Vol30, No 8 2008. 2006. (9 lannotta, G, Nocera, G. and Sironi, A,Own 30 Wurgler, J, Financial markets and the alloca- ership structure, risk and performance in the European tion of capital. Journal Of Financial Economics, VoL58 banking industry. Journal Of Banking And Finance No.l-2,2000 Vol.31,No.7,2007 20 Jensen, M.C. and Meckling, W.H., Theory of (作者单位:西南财经大学工商管理学院) the firm: Mangerial behavior, agency costs and owner- 责任编辑徐敬东2015年第11期 ⑦许小年：《以法人机构为主建立公司治理机 制和资本市场》，《改革》1997 年第 5 期。 ⑧张芳、李龙：《中国银行业市场结构衡量指 标及分析》，《宏观经济研究》2012 年第 10 期。 ⑨张红军：《中国上市公司股权结构与公司绩 效理论与实证分析》，《经济科学》2000 年 4 期。 ⑩朱建武：《基于 EVA 的中小银行绩效与治理 结构关系分析》，《财经研究》2005 年第 5 期。 􀃊􀁉􀁓 Allen，F. and Gale，D.，Corporate governance and competition. University Of Pennsylvania，Working Paper，No.117，1998. 􀃊􀁉􀁔Andres，P. and Vallelado，E.，Corporate gover￾nance in banking：The role of the board of directors. Journal Of Banking And Finance，Vol.32，No.12，2008. 􀃊􀁉􀁕Campa，J.M. and Kedia，S.，Explaining the di￾versification discount. Journal Of Finance，Vol.57， No.4，2002. 􀃊􀁉􀁖 Dahya, J., Dimitrov, O. and McConnell, J., Domi￾nant shareholders, corporate boards, and corporate value：A cross-country analysis. Journal Of Financial Economics， Vol.87，No.1，2008. 􀃊􀁉􀁗 Gezan，S.A. and Munoz，P.R.，Introduction to linear mixed model. Working Paper，2010. 􀃊􀁉􀁘 Grosfeld，I. and Tressel，T.，Competition and corporate governance：Substitutes or compliments? Evi￾dence from the Warsaw stock exchange. DELTA Work￾ing Papers，No.2001-06，2001. 􀃊􀁉􀁙Holmstrom, B., Moral hazard in teams. Bell Journal Of Economics，Vol.13，No.2，1982. 􀃊􀁉􀁚Huang，R. and Ratnovski，L.，The dark side of bank whole sale funding. IMF Working Paper，No.1223， 2008. 􀃊􀁉􀁛Iannotta，G.，Nocera，G. and Sironi，A.，Own￾ership structure，risk and performance in the European banking industry. Journal Of Banking And Finance， Vol.31，No.7，2007. 􀃊􀁊􀁒 Jensen，M.C. and Meckling，W.H.，Theory of the firm：Mangerial behavior，agency costs and owner￾ship structure. Journal Of Financial Economics，Vol.3， No.4，1976. 􀃊􀁊􀁓 Kima, K.A., Kitsabunnarat-Chatjuthamardb, P. and Nofsingerc，J.R.，Large shareholders，board inde￾pendence，and minority shareholder rights：Evidence from Europe. Journal Of Corporate Finance，Vol.13， No.5，2007. 􀃊􀁊􀁔McConnell，J. and Servaes，H.，Additional evi￾dence on equity ownership and corporate value. Journal Of Financial Economics，Vol.27，No.2，1990. 􀃊􀁊􀁕Mitton，T.，A cross-firm analysis of the impact of corporate governance on the East Asian financial cri￾sis. Journal Of Financial Economics，Vol.64，No.2， 2002. 􀃊􀁊􀁖 Nalebuff，B.J. and Stiglitz，J.E.，Information， competition，and markets -information，competition， and markets. American Economic Review，Vol.73， No.2，1983. 􀃊􀁊􀁗 Nickell，S.J.，Competition and corporate perfor￾mance. Journal Of Political Economy，Vol.104，No.4，1996. 􀃊􀁊􀁘Saxton，K.，Banks face risky business of Basle. Euromoney，Jan.，2002. 􀃊􀁊􀁙 Schmukler，S. and Vesperoni，E.，Firms’fi￾nancing choices in bank based and market based eco￾nomics. World Bank Working Paper，2000. 􀃊􀁊􀁚Shleifer，A. and Vishny，R.，A survey of corpo￾rate governance. Journal Of Finance，Vol.52，No.2， 1997. 􀃊􀁊􀁛Stiroh，K.J. and Rumblea，A.，The dark side of diversification：The case of US financial holding com￾panies. Journal Of Banking And Finance，Vol.30，No.8， 2006. 􀃊􀁋􀁒Wurgler，J.，Financial markets and the alloca￾tion of capital. Journal Of Financial Economics，Vol.58， No.1-2，2000. （作者单位：西南财经大学工商管理学院） 责任编辑 徐敬东 151